{"id":1483784,"date":"2024-08-15T11:45:00","date_gmt":"2024-08-15T15:45:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1483784"},"modified":"2024-08-15T11:45:00","modified_gmt":"2024-08-15T15:45:00","slug":"its-communism-kamalas-first-economic-plan-proposes-price-controls-to-combat-inflation","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/its-communism-kamalas-first-economic-plan-proposes-price-controls-to-combat-inflation\/1483784\/","title":{"rendered":"“It’s Communism”: Kamala’s First Economic Plan Proposes Price Controls To “Combat Inflation”"},"content":{"rendered":"

“It’s Communism”: Kamala’s First Economic Plan Proposes Price Controls To “Combat Inflation”<\/span><\/p>\n

\n

After the unoriginal Vice President Kamala Harris stole former President Trump’s<\/a> proposed ‘no tax on tips’ policy,\u00a0she’s at it again with yet another recycled idea. This time, she’s echoing President Biden’s actions and rhetoric to crack down on sky-high food prices by proposing the\u00a0first-ever federal ban on “corporate price-gouging in the food and grocery industries”\u2014a move that reeks of socialism.<\/p>\n

“There’s a big difference between fair pricing in competitive markets, and excessive prices unrelated to the costs of doing business,”\u00a0the Harris campaign wrote in a statement, adding, “Americans can see that difference in their grocery bills.”<\/p>\n

News: Harris to propose \u201cfederal ban on corporate price-gouging\u201d on groceries and \u201cimpose stiff penalties in the food industry,\u201d campaign announces.<\/p>\n

\u2014 Philip Melanchthon Wegmann (@PhilipWegmann) August 15, 2024<\/a><\/p>\n

The Harris campaign said the vice president will unveil the new federal proposed ban on Friday at a campaign rally in the battleground state of North Carolina as part of a broader economic policy platform. The proposal will ensure food companies\u00a0can’t exploit consumers to increase profits, according to CBS News<\/a>, citing\u00a0Harris-Walz campaign officials.\u00a0<\/p>\n

Harris’ policy speech will also call on the Federal Trade Commission and state attorneys to examine corporations violating price-fixing rules. Her remarks are expected to\u00a0echo Biden’s actions and rhetoric, especially with his war against meat processing companies that he alleges are responsible for higher burger prices at the supermarket.<\/p>\n

VP Harris’ campaign argues that lowering Americans’ costs is a function of socialist-style price controls. Yet this is the quickest way to understand that Harris’ economic team has no actual understanding of inflation.\u00a0<\/p>\n

Here comes the real Kamalanomics: price controls<\/p>\n

To follow: mile-long lines for food, meat coupons, shortages, food black market. https:\/\/t.co\/EGx0dQMhxY<\/a><\/p>\n

\u2014 zerohedge (@zerohedge) August 15, 2024<\/a><\/p>\n

Heritage Foundation’s EJ Antoni explained, “Here’s your “price gouging” narrative: average costs paid by businesses have risen just as much as costs charged to consumers – if businesses are being “greedy,” they’re doing it all wrong…”\u00a0<\/p>\n

Here’s your “price gouging” narrative: average costs paid by businesses have risen just as much as costs charged to consumers – if businesses are being “greedy,” they’re doing it all wrong… pic.twitter.com\/ALiw72MXSf<\/a><\/p>\n

\u2014 E.J. Antoni, Ph.D. (@RealEJAntoni) August 14, 2024<\/a><\/p>\n

Instead of curbing out-of-control government spending, which debt rises $1 trillion every 100 days, and understanding that monetary inflation driven by the Federal Reserve’s money creation is the root cause of inflation, Harris deflects the actual problem: The Fed. She instead goes after big corporations for ‘illegal price gouging.’\u00a0<\/p>\n

Here’s a snippet of\u00a0Money Metals Midweek Memo’s\u00a0Mike Maharrey<\/em> commenting<\/a> on\u00a0Harris’ proposed price-fixing ban on big food companies:\u00a0<\/p>\n

The second “dumb” idea Maharrey discussed came from Vice President Kamala Harris, who was recently asked about her plan to combat inflation. Maharrey criticized her response, which he described as “word salad,” pointing out that she merely acknowledged the problem without offering any concrete solutions. Instead, she promised to take on “big corporations” engaging in “illegal price gouging,” corporate landlords, and big pharma.<\/em><\/p>\n

Maharrey argued that Harris’s approach misses the root cause of inflation, which is monetary inflation driven by the Federal Reserve’s money creation. He cited the July budget deficit data, revealing that the Biden administration spent another $574 billion in just one month, running a $243 billion deficit. Maharrey emphasized that inflation is not caused by corporate greed but by the government’s excessive spending and borrowing.<\/em><\/p>\n

“Price inflation is a symptom of monetary inflation, which has everything to do with money creation by the Federal Reserve,” Maharrey explained. He warned that Harris’s proposed policies, including price controls, would likely lead to shortages and exacerbate the problem rather than solve it.<\/em><\/p>\n

Here’s what X users are saying.<\/p>\n

\ud83d\udcaf… I keep trying to warn people about these communistas. pic.twitter.com\/bhMVMMMQll<\/a><\/p>\n

\u2014 The \ud83d\udc30\ud83d\udd73\ufe0f (@TheHoleTweet) August 15, 2024<\/a><\/p>\n

Literal communist economics. Holy crap, we have an example 90 miles from Florida of what that leads to.<\/p>\n

\u2014 Absent Intelligence (@AbsIntel) August 15, 2024<\/a><\/p>\n

Ask the Soviets how price controls work out<\/p>\n

\u2014 Rudolph Troha \ud83c\uddfa\ud83c\uddf2\ud83c\udff3\ufe0f\u200d\ud83c\udf08 (@RudolphTroha) August 15, 2024<\/a><\/p>\n

Price controls lead to empty shelves.<\/p>\n

\u2014 EleventySigma CygnusAtratus (@eleventysigma) August 15, 2024<\/a><\/p>\n

Full blown commie and she is only just getting started.<\/p>\n

\u2014 Geriatrick (@GeriatrickGames) August 15, 2024<\/a><\/p>\n

And more…\u00a0<\/p>\n

It\u2019s govt greed that is destroying everything<\/p>\n

\u2014 Joe Wallin (@joewallin) August 14, 2024<\/a><\/p>\n

this argument (greedy corp price gouging) is the quickest way to tell that someone has absolutely no understanding of economics<\/p>\n

\u2014 infra \ud83c\udfdb\ufe0f\u231b\ufe0f (@infraa_) August 14, 2024<\/a><\/p>\n

Everyone knows that approach won\u2019t work. It\u2019s just to get votes from stupid people.<\/p>\n

\u2014 DerylR (@DerylR56) August 15, 2024<\/a><\/p>\n

Nothing says socialism like a policy platform chocked full of government price controls.<\/p>\n

\u2014 Hokie2012 (@Hokie20121207) August 15, 2024<\/a><\/p>\n

Good Lord. Price controls?! This is economic illiteracy and undiluted socialism\/leftism. As John McEnroe would say, \u201cYou cannot be serious!\u201d<\/p>\n

I guess Harris thinks, contra Lincoln, that she can fool some of the people some of the time, election time. https:\/\/t.co\/YvJAiGqGZ6<\/a><\/p>\n

\u2014 John Guardiano (@ResCon1) August 15, 2024<\/a><\/p>\n

Nothing to see here…\u00a0<\/p>\n

<\/a><\/p>\n

Kamalanomics = ‘communist economics’ as some X users describe<\/a>…\u00a0<\/p>\n

“We are no longer talking about hypothetical communism,<\/strong> we are talking about two straight up communists who want to institute a federal price ban on food and a federal minimum wage that is going to make every corporation go out of business.<\/em><\/p>\n

…<\/em><\/p>\n

Voting for communism is not the solution to your precious feelings.”<\/em><\/strong><\/p>\n

\u00a0<\/p>\n

*\u00a0 *\u00a0 *\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 08\/15\/2024 – 07:45<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/economics\/vp-harris-first-economic-plan-proposes-federal-price-controls-combat-inflation<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

“It’s Communism”: Kamala’s First Economic Plan Proposes Price Controls To “Combat Inflation” After the unoriginal Vice President Kamala Harris stole former President Trump’s proposed ‘no…<\/p>\n","protected":false},"author":0,"featured_media":1483785,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1483784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1483784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1483784"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1483784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1483785"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1483784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1483784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1483784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}